The Resource Exchange Rate Policy in Advanced Commodity-Exporting Countries : The Case of Australia and New Zealand, Adrian Blundell-Wignall and Robert G. Gregory, (electronic book:)

Exchange Rate Policy in Advanced Commodity-Exporting Countries : The Case of Australia and New Zealand, Adrian Blundell-Wignall and Robert G. Gregory, (electronic book:)

Label
Exchange Rate Policy in Advanced Commodity-Exporting Countries : The Case of Australia and New Zealand
Title
Exchange Rate Policy in Advanced Commodity-Exporting Countries
Title remainder
The Case of Australia and New Zealand
Statement of responsibility
Adrian Blundell-Wignall and Robert G. Gregory
Creator
Contributor
Subject
Language
eng
Summary
The paper examines the desirability of exchange rate management in a commodity-exporting country, in which the terms of trade are driven by the world commodity price cycle. When the authorities are assumed to pursue an inflation objective, the usefulness of managing the rate depends on the relative importance of monetary versus terms of trade shocks. Empirical evidence suggests that floating rate regimes will normally be preferred for countries like Australia and New Zealand, although circumstances can be envisaged in which either leaning-against-the-wind or leaning-with-the-wind policies are required. A review of experience since the Korean War boom suggests that attempts to fix the exchange rate in the face of the commodity cycle are likely to be associated with inflation problems, while labour market asymmetries can lead to resource misallocation and to pressures for the protection of the non-commodity traded goods sector ..
Member of
Cataloging source
FR-PaOEC
http://library.link/vocab/creatorName
Blundell-Wignall, Adrian
Government publication
international or intergovernmental publication
Literary form
non fiction
Nature of contents
dictionaries
http://library.link/vocab/relatedWorkOrContributorName
Gregory, Robert G.
Series statement
OECD Economics Department Working Papers,
Series volume
no.83
http://library.link/vocab/subjectName
  • Economics
  • Australia
  • New Zealand
Label
Exchange Rate Policy in Advanced Commodity-Exporting Countries : The Case of Australia and New Zealand, Adrian Blundell-Wignall and Robert G. Gregory, (electronic book:)
Instantiates
Publication
Antecedent source
not applicable
Control code
566103428800
Dimensions
21 x 29.7cm.
Extent
55 p.
File format
multiple file formats
Form of item
online
Specific material designation
remote
System control number
(FR-PaOEC)
Label
Exchange Rate Policy in Advanced Commodity-Exporting Countries : The Case of Australia and New Zealand, Adrian Blundell-Wignall and Robert G. Gregory, (electronic book:)
Publication
Antecedent source
not applicable
Control code
566103428800
Dimensions
21 x 29.7cm.
Extent
55 p.
File format
multiple file formats
Form of item
online
Specific material designation
remote
System control number
(FR-PaOEC)

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